IMPACT OF DIGITAL LITERACY ON INNOVATIONS AMONG GEN Z ENTREPRENEURS IN NIGERIA

Abstract

This paper examined how digital literacy enables young entrepreneurs to leverage technology, automation, and online platforms to scale their businesses and drive economic growth. The research highlights how productivity and efficiency are improved through cloud-based collaboration tools, automation, and AI-driven business processes, enabling young entrepreneurs to manage businesses remotely and optimize performance. Moreover, the research investigated the rise of digital-first business models which have allowed Nigerian entrepreneurs to compete in the global digital economy. The study also examined how alternative financing and crowdfunding have transformed startup funding, enabling young entrepreneurs to secure investments through peer-to-peer lending, cryptocurrency-based financing, and crowdfunding platforms like NaijaFund and GoFundMe. Despite these advancements, challenges such as cybersecurity threats, digital infrastructure limitations, and regulatory barriers persist. By fostering a robust digital ecosystem, young Nigerian entrepreneurs can leverage digital literacy to drive long-term innovation, business success, and economic development.